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Quirin FLECKENSTEIN

Assistant Professor

Finance

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Biography

Quirin Fleckenstein earned a Ph.D. in finance from The Stern School of Business, New York University, and a master in management from The University of Mannheim. His research is in the areas of macro-finance, financial intermediation, and corporate finance, with a particular focus on the role of non-bank lenders.

Scientific articles

Do Lead Arrangers Retain Their Lead Shares?

Journal of Finance, Forthcoming, (in coll. with K. BLICKLE, S. HILLENBRAND, A. SAUNDERS)

Nonbank Lending and Credit Cyclicality

Review of Financial Studies, April 2026, vol. 39, n° 4, pp 925-966, (in coll. with M. GOPAL, G. GUTIERREZ, S. HILLENBRAND)

Working papers

Intermediary Frictions and the Corporate Credit Cycle: Evidence From CLOs

Cahier de Recherche , 2022

Nonbank Lending and Credit Cyclicality

NYU Stern Working Paper , 2020

Scientific articles

Nonbank Lending and Credit Cyclicality

Review of Financial Studies, April 2026, vol. 39, n° 4, pp 925-966, (in coll. with M. GOPAL, G. GUTIERREZ, S. HILLENBRAND)

Do Lead Arrangers Retain Their Lead Shares?

Journal of Finance, Forthcoming, (in coll. with K. BLICKLE, S. HILLENBRAND, A. SAUNDERS)

Working papers

Intermediary Frictions and the Corporate Credit Cycle: Evidence From CLOs

Cahier de Recherche , 2022

Nonbank Lending and Credit Cyclicality

NYU Stern Working Paper , 2020

Education

  • Ph.D., Finance, New York Stern University, Stern School of Business - USA

Academic appointments

Academic Responsibilities at HEC

  • 2023- Assistant Professor, Finance HEC Paris
  • 2023- Member of GREGHEC, the joint research laboratory CNRS-HEC Paris, GREGHEC HEC Paris